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Answering the call for personalized customer experiences

To grow their retail revenue, telcos need to shift their mindsets—and their selling models.

Overview

Why are telco stores failing to achieve their full revenue potential? Because they aren’t selling what customers want to buy.

Today’s telco customers want—and value—engaging experiences at every point of interaction. But telco stores still sell phones, accessories, contract upgrades and services in a one-size-fits-all manner. In short, they act like traditional retailers.

Rather than relying on yesterday’s retail sales models, telcos need to inject themselves more meaningfully into consumers’ digitally enabled shopping process. They need to create and understand distinct customer profiles. And they need to offer personalized experiences that entice customers to embrace new digital opportunities.

Ninety percent of telco executives believe a strong physical retail channel is important to their growth strategy.

More than 75 percent have increased the number of storefronts through which they sell.

But telcos can’t rely solely on the physical retail space for sales. Eighty-three percent of consumers initiate the purchasing process before they enter a store. And once they’re in the store, they want more than a device they’ve researched online. They want an experience they can't find elsewhere.

Half of telco customers are willing to pay more for a valuable experience.

Eighty percent of customers are interested in proposals for additional telco products and services.

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